Ripple has been the center of attraction after the speculation of most recent rumor which must have been released into the market by some Ripple enthusiast or XRP holder. The rumor speaks around the Amazon accepting Ripple as one of its payment methods. Though we have seen many technological giants pairing up with crypto assets as their payment mode for their services and products. But there hasn’t been any official announcement from either of the team.
However, what we are interested to know does Ripple possess enough technological potential back such internet giant like Amazon. As well as whether there will be official confirmation on the partnership. How likely it is that XRP will be added to Amazon, as well as how this going to impact its price in the market.
Ripple As A Payment Method
In this market of volatility, when there is a recovery of an asset it lets us know that it is not going to vanish anytime soon. After the dip in price during January, February. One of the greatest factors which contributed to the recovery of the market was the rumor that Amazon to be turning up as crypto-supporter.
Ripple has been backed by immense trust in the market after its technology has been tested and promoted by various banking institutions and financial companies like Santander, American Express, and MasterCard.
This is how it is believed, although not officially confirmed that Amazon is going to accept Ripple as its payment method. Apart from getting linked to this internet giant. Ripple is also aiming at getting accepted by one of the tech giant Apple Inc.
It is undeniable to say that after the adoption of XRP by this internet giant it is more likely to skyrocket. Eventually, leading to a massive adoption. Since Amazon as a worldwide seller has a huge customer bandwidth and even providing a great reach among its customer.
There wasn’t any mention of Ripple in public announcement of Amazon and neither did Ripple announced any updates on this matter. That is why we can’t give any confirmation on this partnership.
However, Ripple did gain worldwide attention recently on NBC’s Ellen Degeneres show, When actor Ashton Kutcher donated $4 million in Ripple. He donated this amount of money to her Gorilla Fund on behalf of Ripple Foundation.
This was a massive promotion for Ripple, because Ellen transferred $4 million a just a couple of seconds of her click.
Does Amazon Really Need Ripple?
We can see that many digital assets are being accepted by many small and medium section companies and foundation. Ripple along with few other cryptos are getting such acceptance and market growth.
These companies have come forward to accept these digital currencies as a payment method for their services and products as part of their advancement towards future growth.
Companies that have come forward to accept Ripple as payment method have already tried the same with Bitcoin, but it wasn’t that successful. Because bitcoin transaction was much slower as well as too expensive with its processing fees.
Ripple, however, doesn’t have these problems linked to it, thanks to its technological advancement. This coin is known for its 3.3-second transaction speed and $0.0004 charges per transaction.
This will be very much appreciated by Amazon for its ability to process thousands of transaction in a matter of a couple of seconds. Amazon buyer is an average guy, who prefers to purchase products without much hassle and get things done in a faster way in most feasible manner. And these criteria seem to be satisfied by Ripple if Amazon adopts it as their payment method.
XRP comes off as a more stable coin in the market without any major pitfalls when compared to any other currency.